PALO ALTO, Calif., May 18, 2015 /PRNewswire/ -- XcelMobility, Inc.
(OTCBB: XCLL), a leading online lottery service provider, today
updates investors on lottery business market in China.
In January of this year the Company announced the strategic
decision to focus the company on its online lottery opportunity.
The company is proud to announce that we have completed the
transition and we are now expanding our facilities and services to
keep up with the demand in China.
The company is now fully operational to meet the needs of online
lottery players in China. Our
lottery business expansion included these important changes and
additions:
- Completing our move into new and larger facilities to allow the
lottery group to grow rapidly without worry of disruptions. The new
facility is located in the Central Business District of
Shenzhen China in the heart of the
very modern Futian business district.
- The Company has launched a new and updated corporate website.
www.xcelmobility.com to better reflect the new lottery business
direction of the company.
- The company has launched a new online lottery portal allowing
for lottery players to quickly and easily administer lottery
accounts and purchase lottery products.
- Numerous experienced gaming professionals were added to help
grow the lottery business.
- The company is adding third party distribution partners in all
regions of China.
- The company recently announced an important marketing
partnership with China Mobile to make it easy for customers to buy
lottery products and collect lottery winnings.
Xcelmobility's mobile lottery business is now fully operational
and is servicing mobile lottery customers in China. We have begun to generate revenues from
lottery services and we expect to see a rapid growth in service
revenue in the second half of the calendar year. The Company's CEO
Ryan Ge comments "The Xcelmobility team has worked hard to make
this important transition to the lottery market. We are happy to
see things fully operational so that we can grow quickly in this
lucrative and high growth market. Our recent partnership with China
Mobile gives us great credibility with lottery players. Having
strong and trusted partners is an important ingredient for lottery
business success in China."
The Ministry of Finance announced that 2014 was another record
year for lottery business growth. Total lottery sales in 2014 came
to US $61.5 Billion, up 23.6% from
2013's total.
About XcelMobility, Inc.
XcelMobility is a leading online lottery service provider in
China. The company aggregates and
processes lottery purchase orders from registered user accounts and
derive revenues from service fees paid by provincial sports lottery
administration centers for the purchase orders of welfare and
sports lottery products. We focus on China's burgeoning online lottery market of
well over 300 Million Users and growth rates of over 23% per
year.
For more information visit:
www.xcelmobility.com
https://twitter.com/xcelmobility
Company Contact:
Investor Relations
Contact phone: (858) 886-7237
Email
Company Address
Phone Number- (650)320-1728
Contact: Ronald Strauss
2225 East Bayshore Rd.
Suite 200
Palo Alto, CA 94303
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term is defined in Section 27A of the United States Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. Statements in this press release which are not
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statements regarding beliefs, plans, expectations or intentions
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of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that any beliefs,
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are reasonable, there can be no assurance that any such beliefs,
plans, expectations or intentions will prove to be accurate.
Investors should consult all of the information set forth herein
and should also refer to the risk factors disclosure outlined in
our annual report on Form 10-K for the most recent fiscal year, our
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from time-to-time with the Securities and Exchange Commission.
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SOURCE XcelMobility, Inc.